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every few days the ongoing political uncertainty over the budget over the debt ceiling does not help the government shutdown is bad enough but phil you to raise the debt ceiling would be far worse. and could very seriously damage not only the u.s. economy but also the entire global economy. in the meantime in less than two weeks america will run out of money unless lawmakers agree to raise the debt ceiling the failure will lead to devastating effects warning from the u.s. treasury department's predicting an unprecedented default with catastrophic consequences with the collapse of the american economy sending shock waves across the globe and doing with the financial crisis and recession was the two thousand and eight meltdown. the u.s. government shutdown is taking its toll on the president's plans as well was barack obama forced to cancel a trip to asia and mr summits the federal stoppage as place hundreds of thousands of workers on paid leave is costing the american economy at least three hundred million dollars every day hitting businesses and consumer confidence qantas leaving fro
every few days the ongoing political uncertainty over the budget over the debt ceiling does not help the government shutdown is bad enough but phil you to raise the debt ceiling would be far worse. and could very seriously damage not only the u.s. economy but also the entire global economy. in the meantime in less than two weeks america will run out of money unless lawmakers agree to raise the debt ceiling the failure will lead to devastating effects warning from the u.s. treasury department's...
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Oct 8, 2013
10/13
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MSNBC
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every major spending reduction deal of the last 30 years has been done with the debt ceiling. the president is the one that is saying he wants to change that trend, and do this entire debt ceiling proposal without any efforts. >> with all due respect sir, the democrats have come down to about the paul ryan spending number. what you just talked about, the compromises you want, are still on the affordable care act, which are not about spending. that is a settled policy. you're still tying the affordable care act to raising the debt ceiling. you just did it. >> no, i mean, i -- you're -- i'm not -- we've got two issues here. the continuing resolution, the proposals i talked to about the affordable care act are connected with the continuing resolution. what i've told you with the debt ceiling is that we ought to focus on bringing spending reductions to the table like we have done with every major -- every president over the last 30 years. we ought to do it now, too. frankly, i think, though, it's way bigger than that for america. we're at a point now where the president and harry
every major spending reduction deal of the last 30 years has been done with the debt ceiling. the president is the one that is saying he wants to change that trend, and do this entire debt ceiling proposal without any efforts. >> with all due respect sir, the democrats have come down to about the paul ryan spending number. what you just talked about, the compromises you want, are still on the affordable care act, which are not about spending. that is a settled policy. you're still tying...
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Oct 16, 2013
10/13
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ALJAZAM
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we have raised the debt ceiling every year since 1979. so it was just politics. and we knew they wouldn't take us over the cliff it was too critical. we have a big bond auction tomorrow, $100 billion. if that were to fail it would be total havoc. halloween we have a huge debt due, so there was no way this was going to continue. that's why you never really saw the market fall off. we felt all along it was just politics playing it's a out, which was just drama, and it would work out. >> thank you very much indeed. that is alan valdez from dmv securities. dell back to you. >> john thank you very much. >>> and your guest may have been ahead of himself a little bit. they have not done exactly what he said they have done, but we are expecting them to do it. >>> markets in europe and asia also reacting to the situation? washington. phil joins live in london. how are the european and asian markets reacting to possible news in the senate? >> reporter: well, they haven't really been shook too hard by this. there is a general sense that as you heard on wall street, there's
we have raised the debt ceiling every year since 1979. so it was just politics. and we knew they wouldn't take us over the cliff it was too critical. we have a big bond auction tomorrow, $100 billion. if that were to fail it would be total havoc. halloween we have a huge debt due, so there was no way this was going to continue. that's why you never really saw the market fall off. we felt all along it was just politics playing it's a out, which was just drama, and it would work out. >>...
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Oct 8, 2013
10/13
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ALJAZAM
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. >> every night share undiscovered stories. >> we're back talking about the risks of the debt ceiling. >> jill, you help dea governmens deal with their debt issues. what happens when states go into default? >> usually it's not the size of the united states. when a country defaults--first of all, a country does everything in its power to avoid a default, and it will engage with interested parties long before a default would actually occur. in order to avoid that default. they would like to negotiate a solution or some kind of alternative scenario. >> pushing off debt. >> yes, proverbial kicking the can down the road? you would find some other solution rather than defaulting on your correct. >> now you think that this is a game of chicken and each side is waiting for the other side to blink first. if we go down this road and the president does not use some form of executive power or there is still some stalemate how does that impact the view of the united states internationally, particularly those who hold the most debt, the chinese and japanese? >> i think it's very problematic if the
. >> every night share undiscovered stories. >> we're back talking about the risks of the debt ceiling. >> jill, you help dea governmens deal with their debt issues. what happens when states go into default? >> usually it's not the size of the united states. when a country defaults--first of all, a country does everything in its power to avoid a default, and it will engage with interested parties long before a default would actually occur. in order to avoid that default....
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Jan 29, 2013
01/13
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CNBC
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we ask do you think congress is going to increase the debt ceiling every time it's reached, refuse to raise it at some point and don't know? you can see 86% are saying that congress will raise the debt ceiling every time it's reached this year, when i think about some of the reasons why stocks have gotten higher because i think that thread along with the fiscal cliff has come out of the market and that there's overwhelming sentiment that coss i solve the get problem. we asked wall street to grade our treasury secretary going out and one coming in. you can see a pretty strong sentiment that he was a seed secretary with a 2.2. jack lew, the sentiment there. 2.0. one more thing on the deficit i just want to say and maybe this is worthy of discussion here. i think this is a sign that things have improved, at these economists and guys on wall street are saying we should solve the deficit and do it now. i think if things were as bad as they were say the last couple years there might be less sense that we urgently need to fix the deficit problem. mike england from action economics said if we
we ask do you think congress is going to increase the debt ceiling every time it's reached, refuse to raise it at some point and don't know? you can see 86% are saying that congress will raise the debt ceiling every time it's reached this year, when i think about some of the reasons why stocks have gotten higher because i think that thread along with the fiscal cliff has come out of the market and that there's overwhelming sentiment that coss i solve the get problem. we asked wall street to...
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Dec 18, 2013
12/13
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BLOOMBERG
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house or the the senate is willing to give the president a clean debt ceiling increase. every time the president asks us to do that is a good time to try to achieve something important for the country. so with one battle almost out of the way, a new one is gearing up. democrats have no plans to negotiate over the debt limit. republican lawmakers are discussing when they hope to get out of it. february 7 is when the debt ceiling suspension negotiated in october shutdown deal expires. expect another showdown then. >> yang yang in washington. the current congress is on its way to establishing a new record, one that it cannot be proud of. congress is going to have its least productive year ever with 57 laws enacted so far. the former record low was 88. phil mattingly has more on what is being called the do-nothing congress. historic. that is the most accurate way to describe the inaction in congress. this group will clear the fewest number of loss in history. congress third time has cleared fewer than 100 laws and marks a new law for the five years president obama has been i
house or the the senate is willing to give the president a clean debt ceiling increase. every time the president asks us to do that is a good time to try to achieve something important for the country. so with one battle almost out of the way, a new one is gearing up. democrats have no plans to negotiate over the debt limit. republican lawmakers are discussing when they hope to get out of it. february 7 is when the debt ceiling suspension negotiated in october shutdown deal expires. expect...
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Dec 13, 2013
12/13
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CSPAN
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i think you know every package has been attached to a debt ceiling. even today's budget control act, every president in your lifetime and my lifetime has negotiated on a debt ceiling. i've had our capable staff resterge issue. the debt ceiling tends to be the early warning system that spending is out of control yet on september 15 of this year the president took the unprecedented and radical action of stating i will not negotiate on the debt ceiling. so is it the position of this administration that if congress does not functionally repeal the debt ceiling and allow the president to spend what he wishes that he is threatening default on our sovereign debt? >> mr. chairman, i would disagree with the characterization of the debt ceiling as an early warning. the debt ceiling is at the very end. all the decisions congress makes on entitlement programs that determines -- >> are you aware of any other president in our lifetime who has taken the radical position of stating he will not negotiate deficit reduction on the debt sealing? >> mr. chairman i think w
i think you know every package has been attached to a debt ceiling. even today's budget control act, every president in your lifetime and my lifetime has negotiated on a debt ceiling. i've had our capable staff resterge issue. the debt ceiling tends to be the early warning system that spending is out of control yet on september 15 of this year the president took the unprecedented and radical action of stating i will not negotiate on the debt ceiling. so is it the position of this administration...
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Sep 3, 2013
09/13
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CNBC
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ceiling loom larger every day. will the president be forced to make some deals on those issues to win enough votes on syria? peter orszag used to be in the middle of such affairs as white house budget director. he is now vice-chairman of global banking at citigroup and he's back with us today. peter, good to see you. >> good to be here. >> let me begin with syria. the president needs the votes. today, we heard john boehner say he agrees with the president, military action. would there be a scenario where some congressman would say, okay, i'll give you a yes and i will agree with you on syria, but i need some concessions when it comes to the debt ceiling and cutting back on spending? >> well, they may say that, but the question is, where is that middle ground? because it's really hard -- congressman goes to the president says, i'll give you a vote on syria in exchange for delaying obamacare? i don't think so. the question is, what would that congressman or woman ask for in exchange, that the president could actually
ceiling loom larger every day. will the president be forced to make some deals on those issues to win enough votes on syria? peter orszag used to be in the middle of such affairs as white house budget director. he is now vice-chairman of global banking at citigroup and he's back with us today. peter, good to see you. >> good to be here. >> let me begin with syria. the president needs the votes. today, we heard john boehner say he agrees with the president, military action. would...
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Jan 5, 2013
01/13
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CNNW
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the debt ceiling law was established to give the u.s. treasury the flexibility to borrow money without going to congress to get approval every time a bill was passed. it had absolutely nothing to do with spending control or debt control. it was a technicality. most functioning countries don't have any such thing because they understand that if the government spends the money it has to pay the bills. republicans seem to think the debt creeling is is a good tool to limit how much the government spends. the current debt ceiling was officially hit on december 31st, but like last time the u.s. treasury is using extraordinary measures to get it through. and sometime about late february or early march, they might. if congress doesn't act by then, the government risks not being able to pay some of its bills. now, as if that's not enough, by march 1st we could be heading off the sequester cliff. that's because the fiscal cliff deal that passed last week put off what to do with government spending for two months. blanket cuts are still mandated by
the debt ceiling law was established to give the u.s. treasury the flexibility to borrow money without going to congress to get approval every time a bill was passed. it had absolutely nothing to do with spending control or debt control. it was a technicality. most functioning countries don't have any such thing because they understand that if the government spends the money it has to pay the bills. republicans seem to think the debt creeling is is a good tool to limit how much the government...
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Jan 28, 2013
01/13
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CSPAN2
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eye 82
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and we have sort of the best to come yet because we haven't decided on the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us on vietnam, on the watergate crisis, and we came charging back. i think we will do here. but it would be nice if we didn't have to go to the cliff each time to do it. >> and again, when you start talking about the kind of relationships and the kind of leadership, you know, we still seem to have this atmosphere where people talk more at each other than trying to find some common ground, some common goal in getting it down. you broach the whole growth of growth and jobs, and that is the answer to all of us. you also talk a lot about contagion on this one. we all sensed that if the european situation got worse, and they represent 23% of world gdp, the effect it's going to have on the united states, india, brazil, it's going to be real. and so with 40% of export coming here to the united states and so forth, all of a sudden we started to see
and we have sort of the best to come yet because we haven't decided on the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us on vietnam, on the watergate crisis, and we came charging back. i think we will do here. but it would be nice if we didn't have to go to the cliff each time to do it. >> and again, when you start talking about the kind of relationships and...
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Oct 8, 2013
10/13
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FOXNEWSW
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nobody has seriously threatened to breach the debt ceiling until the last few years. and this is our word and our good name. this is real. and the government shut done millions faced hardship in a economic shut done. every american could see their 401 cave and home values fall. and student loans rise and there could be a significant risk of a very deep recession at a time when we are still climbing our way out of at worst recession. the american people have fought too hard and too long from wuon crisis only to see one precipitate another one. the good news is over the past three rand a half years, new businesses created new jobs. we cut the deficit in half. it is coming down faster than any time in the last 50 years. america is poised to become the number one energy producer this year. this year we are pro duducing m oil than we are importing. but the uncertainty caused by one week has reconsidered businesses to think about hiring and seen mortgages held up by thousands of home buyers not sure about the economic situation. and all of this adds to it. we can't afford t
nobody has seriously threatened to breach the debt ceiling until the last few years. and this is our word and our good name. this is real. and the government shut done millions faced hardship in a economic shut done. every american could see their 401 cave and home values fall. and student loans rise and there could be a significant risk of a very deep recession at a time when we are still climbing our way out of at worst recession. the american people have fought too hard and too long from...
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Jan 21, 2013
01/13
by
WRC
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and so the fact that they have backed off both -- not only the idea that we should hold debt ceiling hostage, but second that it shouldn't be one for one cuts, you know, boehner used to say that, the house proposal doesn't say that, dollar in cutting for every dollar in raising the debt ceiling. >> would you support a short-term measure to force you to pass a budget? >> i think it should be longer because we don't want to play fiscal cliff every three months. but it's a positive step. >> you never get a clean debt ceiling raise. >> yes, you should. >> that's not a question of whether you should. but historically it's not been the case. >> mitch mcconnell proposed it two years ago and we passed it. but let me say this on the budget. we democrats have always intended to do a budget this year. for two reasons. first, it is not true that we haven't had budget control in effect over the last several years. the budget control act of 2011 put rigid spending cuts that are in effect -- that were in effect last year. we cut $1 trillion. we didn't like it. it was much more of a republican type
and so the fact that they have backed off both -- not only the idea that we should hold debt ceiling hostage, but second that it shouldn't be one for one cuts, you know, boehner used to say that, the house proposal doesn't say that, dollar in cutting for every dollar in raising the debt ceiling. >> would you support a short-term measure to force you to pass a budget? >> i think it should be longer because we don't want to play fiscal cliff every three months. but it's a positive...
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Jan 19, 2013
01/13
by
CNN
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in the last ten years alone we've raised the debt ceiling every year with the exception of one. america's concerns about the federal budget deficit and government dysfunction rose high enough in january to actually knock unemployment out of the top spot on gallup's list of most important problems for the first time since 2009. i want to bring in a man who's played a leading role in actually passing budgets through all parts of the budget process. he was the chairman of the house budget committee. jim nuss el guided six budgets through congress, served as the director of the office of budget and management. his nickname is knuckle, which is pretty cool. from 2001 to 2007 you were the house budget chief. today that job belongs to paul ryan. why were we able to get budgets done when you ran things and can't do it anymore? try not to give me a particularly political or partisan answer. >> it's all personal ability, of course, right? no. look. these are good people trapped in a very difficult if not terrible situation. with a process they're not even using anymore. you went through a
in the last ten years alone we've raised the debt ceiling every year with the exception of one. america's concerns about the federal budget deficit and government dysfunction rose high enough in january to actually knock unemployment out of the top spot on gallup's list of most important problems for the first time since 2009. i want to bring in a man who's played a leading role in actually passing budgets through all parts of the budget process. he was the chairman of the house budget...
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Sep 22, 2013
09/13
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CSPAN
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eye 57
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with a simple, usually routine vote, to raise what is called the debt ceiling. since the 1950s, congress has always passed it and every president has signed it trade democrats and republicans, including president reagan. if this congress does not do it within the next few weeks, the united states will default on its obligations and put our entire economy at risk. .his is important raising the debt ceiling is not the same as approving more spending. it lets us pay for what congress already spent. it does not cost a dime or at a penny to our deficit. in fact, right now our deficits are already following since -- falling at the facet rate since the end of world war ii. deficit bye cut our more than half since i took office. kratz and somema reasonable republicans are willing to raise the debt ceiling and pass a sensible budget. one that cuts spending on what we don't need so we can invest in what we do. with thoseork democrats and republicans on a better bargain for the middle class. but there is also a faction on the far right of the republican party who have conv
with a simple, usually routine vote, to raise what is called the debt ceiling. since the 1950s, congress has always passed it and every president has signed it trade democrats and republicans, including president reagan. if this congress does not do it within the next few weeks, the united states will default on its obligations and put our entire economy at risk. .his is important raising the debt ceiling is not the same as approving more spending. it lets us pay for what congress already...
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Dec 20, 2013
12/13
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BLOOMBERG
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ceiling increase every time the president asks us to raise the debt ceiling. early in 2014, expect washington to be back in crisis mode. still ahead, new auto safety rankings out today. we will tell you about some new technology that is a major game changer in the auto industry. we will break down the numbers when "bottom line" on bloomberg television continues in just a moment. ♪ >> welcome back to the second half-hour of "bottom line." i am mark crumpton in new york. thanks for staying with us. let's check where the markets finished this session and we hit the bottom of the hour. up. stock indexes ended ready much where they started after a powerful surge on wednesday following the fed news that it would begin reducing its bond buying programs. broader market s&p 500 was down one point at 1809. the dow jones industrial average falling -- excuse me, rising 11 points. the nasdaq composite index, it felt almost a third of a percent at 4058. let's check some of the top stories we're following at this hour. the sales of previously owned u.s. homes dropped for t
ceiling increase every time the president asks us to raise the debt ceiling. early in 2014, expect washington to be back in crisis mode. still ahead, new auto safety rankings out today. we will tell you about some new technology that is a major game changer in the auto industry. we will break down the numbers when "bottom line" on bloomberg television continues in just a moment. ♪ >> welcome back to the second half-hour of "bottom line." i am mark crumpton in new...
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150
Jan 21, 2013
01/13
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LINKTV
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eye 150
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seems to be working for the debt ceiling debate.at expect every major issue in the coming months and years to be a major campaign style eve. >> obviously it sounds like there will be a lot of focus domestic issues. what about foreign policy? >> history shows us that presidents in their second term focus more on foreign policy than the first term and try to forge a legacy. bill clinton did that in his second term. barack obama will try to focus more on the middle east, maybe more on syria. the most pressing issues are domestic. his voters expect him toct on that. he will attack in the first two years. history also tells us after the midterm election of a second term president start to fade away into sort of a lame duck status. >> interesting analysis there. thank you very much, max. in more international news suicide bombers and gunmen attacked afghanistan's travel police leaving three officers dead and more than three wounded. rather assault began at dawn at the entrance to the complex, the second coordinated raid in as many weeks. taliban claim responsibility. it is feared there cou
seems to be working for the debt ceiling debate.at expect every major issue in the coming months and years to be a major campaign style eve. >> obviously it sounds like there will be a lot of focus domestic issues. what about foreign policy? >> history shows us that presidents in their second term focus more on foreign policy than the first term and try to forge a legacy. bill clinton did that in his second term. barack obama will try to focus more on the middle east, maybe more on...
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580
Jan 20, 2013
01/13
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WRC
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eye 580
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dollar in raising the debt ceiling. >> would you support a short-term measure to force you to pass a budget? >> i think it should be longer because we don't want to play fiscal cliff every three months. but it's a positive step. >> you never get a clean debt ceiling raise. >> yes, you should. >> that's not a question of whether you should. but historically it's not been the case. >> mitch mcconnell proposed it two years ago and we passed it. but let me say this on the budget. we democrats have always intended to do a budget this year. for two reasons. first, it is not true that we haven't had budget control in effect over the last several years. the budget control act of 2011 put rigid spending cuts that are in effect -- that were in effect last year. we cut $1 trillion. we didn't like it. it was much more of a republican type proposal than ours. in effect, it expires this year. so we need a budget. but second, it's going to be a great opportunity for us. because in our budget that we will pass, we will lift tax reform, which many of my republican colleagues liked, but it will includ
dollar in raising the debt ceiling. >> would you support a short-term measure to force you to pass a budget? >> i think it should be longer because we don't want to play fiscal cliff every three months. but it's a positive step. >> you never get a clean debt ceiling raise. >> yes, you should. >> that's not a question of whether you should. but historically it's not been the case. >> mitch mcconnell proposed it two years ago and we passed it. but let me say...
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71
Jan 21, 2013
01/13
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KCSMMHZ
tv
eye 71
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seems to be working for the debt ceiling debate. expect every major issue in the coming months and years to be a major campaign style event. >> obviously it sounds like there will be a lot of focus domestic issues. what about foreign policy? >> history shows us that presidents in their second term focus more on foreign policy than the first term and try to forge a legacy. bill clinton did that in his second term. barack obama will try to focus more on the middle east, maybe more on syria. the most pressing issues are domestic. his voters expect him to act on that. he will attack in the first two years. history also tells us after the midterm election of a second term president start to fade away into sort of a lame duck status. >> interesting analysis there. thank you very much, max. in more international news suicide bombers and gunmen attacked afghanistan's travel police leaving three officers dead and more than three wounded. rather assault began at dawn at the entrance to the complex, the second coordinated raid in as many weeks
seems to be working for the debt ceiling debate. expect every major issue in the coming months and years to be a major campaign style event. >> obviously it sounds like there will be a lot of focus domestic issues. what about foreign policy? >> history shows us that presidents in their second term focus more on foreign policy than the first term and try to forge a legacy. bill clinton did that in his second term. barack obama will try to focus more on the middle east, maybe more on...
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190
Sep 7, 2013
09/13
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CNNW
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issue, remember the debt ceiling or issue or whatever it is, but when it's a serious contemplation, an act of war or a response to aggression by the assad regime. everybody is watching how it goes, because many people are reeling from the shock that britain delivered in its parliament when they voted down prime minister cameron in his authority to take action, and the question is who is maintaining the word order? america can play an intrusive role in some of the majorly important interventions and responses that have to be taken. >> one of the big problems facing president obama right now is that many americans are against the military action in syria, and many americans reeling from the wars in a iraq and afghanistan which cost more in blood and treasure than many first estimated and it makes it difficult for the president to rally for support here and abroad. what does this president risk if the united states fails to follow-through on holding the red line? >> you are right, it's unpopular in the united states and unpopular in britain where the prime minister was delivered a crus
issue, remember the debt ceiling or issue or whatever it is, but when it's a serious contemplation, an act of war or a response to aggression by the assad regime. everybody is watching how it goes, because many people are reeling from the shock that britain delivered in its parliament when they voted down prime minister cameron in his authority to take action, and the question is who is maintaining the word order? america can play an intrusive role in some of the majorly important interventions...
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139
Oct 8, 2013
10/13
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ALJAZAM
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eye 139
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we are going to have an economic problem if we don't raise the debt ceiling. the president has to educate why we can't afford the debt ceiling right now. >> here is the president of the united states, president obama. >> this morning i had a chance to speak with speaker boehner. i told him i was happy to talk to him and other republicans about anything. not gis just issues i think are important, but also issues i thy think are important. i also told him that having such a conversation, talks negotiations should not require hanging in the threats of a government shutdown or economic chaos over the heads of the american people. think about it this way. the american people do not get to demand a ransom for doing their jobs. you don't get a chance to call your bank and say, i'm not going to pay my mortgage this month unless you throw in a new car or an xbox. if you are in negotiations around buying someone's house you don't get to say, well let's talk about the price i'm going to pay. and if you don't give me the price i will burn down your house. that is not how
we are going to have an economic problem if we don't raise the debt ceiling. the president has to educate why we can't afford the debt ceiling right now. >> here is the president of the united states, president obama. >> this morning i had a chance to speak with speaker boehner. i told him i was happy to talk to him and other republicans about anything. not gis just issues i think are important, but also issues i thy think are important. i also told him that having such a...
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Jan 14, 2013
01/13
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CNNW
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not careening from a debt ceiling to a fiscal cliff and tax credits that expire every few months. somehow the government as a whole has to come together to give business the confidence it needs. >> the single most important cost that we need to get under control is health care. which now takes up 17% of gdp and still rises much faster than inflation every year. peter orzag ran president obama's office of management and budget during the first term. he says obama care moves us away from a bad model, where doctors and hospitals have a financial incentive to sell you lots of services. >> getting health care costs down is fundamental to the long term fiscal health of the country. what does it need to do in the second term? >> we don't need to wait until 2020. the big gap that remains is medical malpractice reform. what i would favor is finding a safe harbor to a doctor, if you can show you're following an evidence based protocol, i shouldn't be able to sue you. >> tax and health care reform would have huge benefits. but getting them done will be hard. >>> coming up next, is there an e
not careening from a debt ceiling to a fiscal cliff and tax credits that expire every few months. somehow the government as a whole has to come together to give business the confidence it needs. >> the single most important cost that we need to get under control is health care. which now takes up 17% of gdp and still rises much faster than inflation every year. peter orzag ran president obama's office of management and budget during the first term. he says obama care moves us away from a...
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65
May 23, 2013
05/13
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CSPAN2
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eye 65
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that is the reason why every day for 60 days, democrats have opposed taking the debt ceiling off the table in this discussion one of the reasons we got into this mess is because a lot of republicans were complicit in this spending spree. that is why so many americans are disgusted with over five of the. because we need leaders on both sides. my friends from virginia said we need to roll up our sleeves to compromise and work together. please stop bankrupting our country. this issue is very simple. this is a 50 vote threshold. the answer is that we have voted just to raise the debt ceiling because the democrat have a majority of the body and the democrats are explicit that they want to raise the debt ceiling. it is 100% certainty that the debt ceiling will be raised. every republican who here is really saying, let's give the democrats a blank check to borrow any money that they want no reforms, no leadership to fix the problem. i don't think that is consistent with diverse possibilities. finally, much has been said about the budget. the budget contains nothing about the debt ceiling. t
that is the reason why every day for 60 days, democrats have opposed taking the debt ceiling off the table in this discussion one of the reasons we got into this mess is because a lot of republicans were complicit in this spending spree. that is why so many americans are disgusted with over five of the. because we need leaders on both sides. my friends from virginia said we need to roll up our sleeves to compromise and work together. please stop bankrupting our country. this issue is very...
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Dec 14, 2013
12/13
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BLOOMBERG
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the debt ceiling is suspended until every seven. that's what often we expect ysidro progress next week before they break for the holiday? >> in the senate, we can expect to see a few things. we can expect to see a vote on the homeland security nominee on monday and janet yellen confirmation -- janet yellen's confirmation will be next week. looking ahead to 2014, speaker boehner formally invited president obama to deliver a state of the union address on january 28. the president accepted. mark your calendars. >> again, thank you. we will have more on the budget agreement and what might happen in the senate next week. political strategist at atomic research group will join me for analysis and a look into what could be considered a crystal ball at the eye. that is coming up in 10 minutes. let's get you more from al withs extended interview harry reid for tonight's political capital. the elimination of the filibuster will not change legislation. the rule change was necessary. withu have an agreement mitch mcconnell, so you don't need to
the debt ceiling is suspended until every seven. that's what often we expect ysidro progress next week before they break for the holiday? >> in the senate, we can expect to see a few things. we can expect to see a vote on the homeland security nominee on monday and janet yellen confirmation -- janet yellen's confirmation will be next week. looking ahead to 2014, speaker boehner formally invited president obama to deliver a state of the union address on january 28. the president accepted....
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Dec 23, 2013
12/13
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CSPAN2
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i would also say every president in our lifetime has negotiated on the debt ceiling. the chair now recognizes the ranking member for five minutes. >> thank you very much mr. chairman. i would like to see if i can get a clearer understanding about where we are in relationship to finance discussions in trade talks with europe. i sent a letter to i think you and the president basically stating my position on whether or not we would need including financial services provisions any trade agreement. i indicated it may undermanned rotter at first in the u.s. and elsewhere to cross broader oversight. i noticed in "the wall street journal" reporter, indicated that u.s. treasury secretary jacob lew pour cold water on a push by the european union's top financial markets regulator to include negotiations of our financial services regulation and eat you -- do you -- that talks about the possibility we are softening our position. i would like some clarification from you today about where we are in those discussions. >> congressman waters i think the issues of working on an internat
i would also say every president in our lifetime has negotiated on the debt ceiling. the chair now recognizes the ranking member for five minutes. >> thank you very much mr. chairman. i would like to see if i can get a clearer understanding about where we are in relationship to finance discussions in trade talks with europe. i sent a letter to i think you and the president basically stating my position on whether or not we would need including financial services provisions any trade...
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Oct 7, 2013
10/13
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CSPAN2
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we have submitted to them that after they pass that in the debt ceiling, every single thing is on the table. you know, i was thinking the other day if you're a teacher and you get hired in a school and the school opens for work at 9:00 every morning, you have to be in the classroom at 9:00 in the morning in order to keep your job. if you weren't in your classroom at 9:00 in the morning and you decided i don't really want to show up, i want to do something different, i want to change the rules. i don't like 9:00. i'd like to come in at 11:00, you would be fired. well, our job is to keep the government running and to pay the bills we've incurred. we don't get to pick and choose or decide what all of a sudden the middle -- all of a sudden in the middle of everything we're going to cancel out a law that passed three and a half years ago. this is so bad that the republican candidate for governor in virginia has said stop it, open up the government, and then debate health care. the good news is speaker boehner could change his mind, bring our bill up in a few minutes' time. i know how it wo
we have submitted to them that after they pass that in the debt ceiling, every single thing is on the table. you know, i was thinking the other day if you're a teacher and you get hired in a school and the school opens for work at 9:00 every morning, you have to be in the classroom at 9:00 in the morning in order to keep your job. if you weren't in your classroom at 9:00 in the morning and you decided i don't really want to show up, i want to do something different, i want to change the rules....
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Oct 20, 2013
10/13
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ALJAZAM
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and raised the debt ceiling. the u.s. was helding towards economic default. the result budget battle was a close call for the economy. >> there was a faction particularly in the house that took control of some of the direction of this debate. and i would just look to what republican leaders have said themselves about how inadvisable it is and how it can't happen again. i think the message that we have to send going forward is that thithere was a turning point on wednesday night and it can't happen again. >> many believe the g. op tooblg took a big hit and ia sign of a fraction republican party. how to turn republicans and democrats into americans. congressman thank you for being here. >> thank you for having me on. >> does this current republican party resemble the republican party you were with in the 80s and 9 zroi 0's. >> what is different now is the way the groups on the outside the hard line and more ideological people are able to use the primary system to put pressure on the people that may be otherwise be
and raised the debt ceiling. the u.s. was helding towards economic default. the result budget battle was a close call for the economy. >> there was a faction particularly in the house that took control of some of the direction of this debate. and i would just look to what republican leaders have said themselves about how inadvisable it is and how it can't happen again. i think the message that we have to send going forward is that thithere was a turning point on wednesday night and it...
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Dec 15, 2013
12/13
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CSPAN
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i think you know every package has been attached to a debt ceiling. even today's budget control act, every president in your lifetime and my lifetime has negotiated on a debt ceiling. i've had our capable staff research the issue. the debt ceiling tends to be the early warning system that spending is out of control, yet on september 15 of this year the president took the unprecedented radical action of stating "i will not negotiate on the debt ceiling." so is it the position of this administration that if congress does not functionally repeal the debt ceiling and allow the president to spend what he wishes that he is threatening default on our sovereign debt? >> mr. chairman, i would disagree with the characterization of the debt ceiling as an early warning. the debt ceiling is at the very end. all the decisions congress makes on entitlement programs that determines -- >> my time is almost up -- are you aware of any other president in our lifetime who has taken the radical position of stating he will not negotiate deficit reduction on the debt sealing
i think you know every package has been attached to a debt ceiling. even today's budget control act, every president in your lifetime and my lifetime has negotiated on a debt ceiling. i've had our capable staff research the issue. the debt ceiling tends to be the early warning system that spending is out of control, yet on september 15 of this year the president took the unprecedented radical action of stating "i will not negotiate on the debt ceiling." so is it the position of this...
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Sep 23, 2013
09/13
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CSPAN2
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in the events the debt ceiling is not raised we will always pay our debts first. i suspect every member of this body has spoken publicly about the calamity that would come from a default on the debt. i think it is quite revealing that the majority leader explicitly referenced and objected to by name taking a default off the table. i think that's unfortunate. there is a tendency in this town towards rinks and ship, towards pointing to events that can cause instability and uncertainty and using that to try to get your way. i wish the majority leader had been willing to step oregon to say i agree number one is the government should be funded. we should not have a government shut down an number two that we should never ever ever even discussed a default on the debt. have the majority leader said i consent a default on the debt would have been taken permanently off the table. why didn't he? we all know why he did not exist the majority leader embraces obamacare. i'm going to suggest to you mr. president that this body a little over three years ago passed obamacare. pas
in the events the debt ceiling is not raised we will always pay our debts first. i suspect every member of this body has spoken publicly about the calamity that would come from a default on the debt. i think it is quite revealing that the majority leader explicitly referenced and objected to by name taking a default off the table. i think that's unfortunate. there is a tendency in this town towards rinks and ship, towards pointing to events that can cause instability and uncertainty and using...
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Oct 10, 2013
10/13
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CNN
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has been forced to raise that debt ceiling every year or two? >> no, i want to respond to what congressman becerra because it ties right into this. we're where we're at today because we haven't addressed these problems. nobody says we're going to default. nobody has said that we're not going to pay our bills. you know, constitutionally, we cannot default. so we're going to pay the bills, going to pay our veterans, going to pay that, so to say that is being disingenuous. >> let's let the congressman respond. go ahead. >> wolf, the reason you have to have a debt limit increase is because we are right now recovering from a very deep recession and if the republicans didn't want our troops to have the uniforms that they need, to have the equipment they need to protect themselves, then they shouldn't have voted last year for a budget that provided them that. if they didn't want for veterans to get the services they need after they have come home and left the service, they shouldn't have voted for the budget that provided for that. but today, we're try
has been forced to raise that debt ceiling every year or two? >> no, i want to respond to what congressman becerra because it ties right into this. we're where we're at today because we haven't addressed these problems. nobody says we're going to default. nobody has said that we're not going to pay our bills. you know, constitutionally, we cannot default. so we're going to pay the bills, going to pay our veterans, going to pay that, so to say that is being disingenuous. >> let's let...
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Jan 3, 2013
01/13
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CNBC
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now as 2013 kicks off with another contentious battle in washington, this time over the debt ceiling, one that could be every bit as bad as the travesty we just went through two years ago, and certainly rivaling the fiscal cliff battle. i've got some new advice for where you should invest your money. at least if you're as negative about the u.s. as everything else i talked to. there's major parts of the economy that are going strong. today's rally was a magnificent demonstration of that. as we saw with the fiscal cliff nonsense, washington is gridlocked, it seems like none of the washington officials care about getting the economy strong. they would much rather fight to the death over the deficit. the measure last night passed, but it almost didn't happen, because the house is an institution where the minority is able to hold the majority hostage. i think 2013 is a year where, as strong as the market was today, i need to you diversify some of your portfolio into international markets, if you haven't yet. especially since many of these foreign countries have either been easing or imple
now as 2013 kicks off with another contentious battle in washington, this time over the debt ceiling, one that could be every bit as bad as the travesty we just went through two years ago, and certainly rivaling the fiscal cliff battle. i've got some new advice for where you should invest your money. at least if you're as negative about the u.s. as everything else i talked to. there's major parts of the economy that are going strong. today's rally was a magnificent demonstration of that. as we...
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Dec 27, 2013
12/13
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CNBC
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debt ceiling debacle. japanese nuclear crisis. 1987 flash. i'm that old. panic selling has not been the smart thing to do in all those cases. what worked was prudent buying. in many cases it worked big. the only time panic made sense was selling in 2008. the financial institution was on the brink of the collapse. that's when you had to take it off the table. that was a systemic crisis. panic, even in the midst of a nightmare sell-off, made plenty of sense. which is why i told to you sell. then i went on the "today" show, october 6, 2008. >> what is your advice today? >> whatever money you may need for the next five years, please take it out of the stock market right now. >> yep. when the whole system was in jeopardy, only time since the great depression buying actually hurt you. stocks kept falling and falling. good call. you never got a chance to unload the merchandise you bought on the dip at a higher price. that is the only time. that one instance. once in 80 years. i don't expect that to repeat itself. october 2008 i was heavily criticized for what i s
debt ceiling debacle. japanese nuclear crisis. 1987 flash. i'm that old. panic selling has not been the smart thing to do in all those cases. what worked was prudent buying. in many cases it worked big. the only time panic made sense was selling in 2008. the financial institution was on the brink of the collapse. that's when you had to take it off the table. that was a systemic crisis. panic, even in the midst of a nightmare sell-off, made plenty of sense. which is why i told to you sell. then...
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Oct 17, 2013
10/13
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CNBC
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it will raise the debt ceiling until february 7th. that's not that far away. lawmakers are required to try and hammer out a long-term deal through a bipartisan committee. democrats have weighed in following their vote. >> averting this crisis is historic. let's be honest. this is pain inflicted on a nation for no good reason and cannot make cannot make the same mistake again. >> this is not a happy day. it's a somber day. because at the end of the day, we never should have gone through wa we went through. joining us from washington is tracie potts. they say we shouldn't have gone through what we've gone twlu what are the chances of it repeating again? >> fairly good chance that we'll see some back and forth, but in terms of a shutdown that lasts this long, likely not. there was serious damage done here on damage to the economy, $24 billion loss in the course of this shutdown and very much damage politically to both parties. but especially the republican party. poll after poll has shown that the american public more so than the democra
it will raise the debt ceiling until february 7th. that's not that far away. lawmakers are required to try and hammer out a long-term deal through a bipartisan committee. democrats have weighed in following their vote. >> averting this crisis is historic. let's be honest. this is pain inflicted on a nation for no good reason and cannot make cannot make the same mistake again. >> this is not a happy day. it's a somber day. because at the end of the day, we never should have gone...
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Jan 14, 2013
01/13
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CNNW
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not careening from a debt ceiling debacle to a fiscal cliff to some other issue with tax credits that expire every few months and all that kind of stuff so i think somehow the government as a whole has to come together in order to give business the confidence it needs. >> the single most important cost that we need to get under control is health care. which now takes up 17% of gdp and still rises much faster than inflation every year. peter or zag ran president obama's office of management and budget in the first term. he says obama care moves us away from a bad model where doctors and hospital haves a financial incentive to sell you lots of services. getting health care costs down is absolutely fundamental to the long-term fiscal health of the country. >> i think there's several things. i would point to moving much more aggressively away from fever service, even more rapidly. we don't need to wait until 2020. in addition i think the big gap that remains is medical malpractice reform and what i would favor is a safe harbor to a doctor. if you can show you're following an evidence-base
not careening from a debt ceiling debacle to a fiscal cliff to some other issue with tax credits that expire every few months and all that kind of stuff so i think somehow the government as a whole has to come together in order to give business the confidence it needs. >> the single most important cost that we need to get under control is health care. which now takes up 17% of gdp and still rises much faster than inflation every year. peter or zag ran president obama's office of...
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Jan 6, 2013
01/13
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CNNW
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ceiling and, also, you face the sequester across the board on spending. that could be very, very messy. and i think people have every right to be concerned about whether you'll see any kind of sensible resolution between the democrats and republicans. what's worrying is that neither leader, neither john boehner, speaker of the house of representatives, he doesn't seem to be able to control his conservative republicans in the house and mr. obama, president obama, strangely reluctant to take the lead this week. he left it to vice president biden. >> well, again, i would take a rather more optimistic view about the politics, as well. we can all agree that it's a very messy process, politics all over the world in europe and in washington lionel and i both worked for the fd in washington, so, we understand that process reasonably well. i actually think that the next two months are more encouraged about the out look for the next two months for what happened in the last few weeks in washington precisely because in a sense they've gone through a cathartic experie
ceiling and, also, you face the sequester across the board on spending. that could be very, very messy. and i think people have every right to be concerned about whether you'll see any kind of sensible resolution between the democrats and republicans. what's worrying is that neither leader, neither john boehner, speaker of the house of representatives, he doesn't seem to be able to control his conservative republicans in the house and mr. obama, president obama, strangely reluctant to take the...
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Oct 8, 2013
10/13
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CNNW
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something to raise the debt ceiling. democrats argue that might be true, but up until the 11th hour and not down to the wire we are right now and as we were two years ago in 2011. i think in their heart of hearts, republicans probably realize that, but you know what? we are in a very different world than we were even two years ago because of the fact that john boehner has gone down this road that he didn't want to go down to begin with, negotiating first on obama care, on the spend bill, and now on the debt ceiling. he really wanted to start off, wolf, with the debt ceiling. he wanted to put all of their eggs in the debt ceiling basket with regard to negotiations and it got a little muddled and i think republicans up here on capitol hill can see that. so that's why they are having a hard time getting back on the message train, if you will, and the president has been very consistent. i'm not negotiating. you know, we have to pay our bills. we have to pass the debt ceiling increase and fund the government. i'm not negotiat
something to raise the debt ceiling. democrats argue that might be true, but up until the 11th hour and not down to the wire we are right now and as we were two years ago in 2011. i think in their heart of hearts, republicans probably realize that, but you know what? we are in a very different world than we were even two years ago because of the fact that john boehner has gone down this road that he didn't want to go down to begin with, negotiating first on obama care, on the spend bill, and...
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170
Jan 15, 2013
01/13
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CNBC
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every year we pick a new city to explore. but thanks to hotwire, this year we got to take an extra trip. because they get us ridiculously low prices on really nice hotels and car rentals. so we hit boston in the spring-- even caught a game. and with the money we saved, we took a trip to san francisco. you see, hotwire checks the competitions' rates every day so they can guarantee their low prices. so, where to next? how about there? ♪ h-o-t-w-i-r-e... ♪ hotwire.com sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve great rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice. >>> just remind you at the moment, the british
every year we pick a new city to explore. but thanks to hotwire, this year we got to take an extra trip. because they get us ridiculously low prices on really nice hotels and car rentals. so we hit boston in the spring-- even caught a game. and with the money we saved, we took a trip to san francisco. you see, hotwire checks the competitions' rates every day so they can guarantee their low prices. so, where to next? how about there? ♪ h-o-t-w-i-r-e... ♪ hotwire.com sven gets great rewards...
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Jan 12, 2013
01/13
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CNNW
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eye 136
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ceiling for every $1 in deficit reduction. that's what we have to start using the debt ceiling to impose that spending discipline on this administration. face it, president obama is saying we don't have a spending problem. we have a spending problem, this nation. we have a deficit spending problem. >> right. >> we should be doing this incrementally. this is this debate is not going away. >> we've heard both sides, bumper stickers. back to my example of february the 15th. we had $52 billion in committed spending, $9 billion in money we're taking in. by the way, there isn't a chest of money sitting around for the extra stuff. i have a list there. interest, the biggest part. $30 billion. taking in $9 billion, have $30 billion in interest. you say there are other ways to handle that. tax refunds, federal salaries, military pay, $2.7 billion, medicare and med cape $2.3 billion, defense vendors, $1.5 billion, other stuff $4.4 billion. which one are you cutting, sir? >> you're taking a look at one day's -- >> i could pick any day. >>
ceiling for every $1 in deficit reduction. that's what we have to start using the debt ceiling to impose that spending discipline on this administration. face it, president obama is saying we don't have a spending problem. we have a spending problem, this nation. we have a deficit spending problem. >> right. >> we should be doing this incrementally. this is this debate is not going away. >> we've heard both sides, bumper stickers. back to my example of february the 15th. we...
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very quickly to the debt ceiling. there's a very long list of demands which republicans are laying out unprecedented on many levels. are we setting the stage for a bigger crisis now a couple of weeks away? >> i think anyone who assumes that washington will work out these fiscal crisis as they have in the past two years and that we -- it will all work out. you cannot be that optimistic anymore. have you to -- the percentage chances of default -- of a default are much higher after tonight. >> okay, ryan, sorry to interrupt. we really appreciate your insight. it's been great having you here. thanks for joining us. ryan lizza, a columnist with "the new yorker". >> much to think about what has just happened. you're watching live coverage, reaction to shutdown of the u.s. government. the stock market is something we're going to talk about now. a lot of people will be watching. hong kong and shanghai are closed for the holiday. here's how other exchanges are doing after this news. the nikkei is up 0.44%, so is the s&p asx 20
very quickly to the debt ceiling. there's a very long list of demands which republicans are laying out unprecedented on many levels. are we setting the stage for a bigger crisis now a couple of weeks away? >> i think anyone who assumes that washington will work out these fiscal crisis as they have in the past two years and that we -- it will all work out. you cannot be that optimistic anymore. have you to -- the percentage chances of default -- of a default are much higher after tonight....